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Nov 25, 2013
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and he also made connections that gave him entree to europe, and the hedge funds capital of america, greenwich, connecticut. it was here that bernie madoff made some of his biggest deals with large investment firms that were willing to feed him billions of dollars of their clients' money to manage. and in return, bernie madoff agreed to pay these so-called feeder funds a fortune in annual fees. the largest of the feeder funds was the fairfield greenwich group. how much money did fairfield make off bernie madoff every year? >> hundreds of millions of dollars. >> kroft: if you're a feeder fund, what are you supposed to do for those hundreds of millions of dollars? >> you're supposed to identify the world's best hedge fund managers and invest only in them, and you're supposed to make sure they're not running ponzi schemes. >> the real steroids here were the feeder funds. that's what made it an international ponzi scheme. >> kroft: attorney david boies is one of the most prominent lawyers in the country and is representing fairfield greenwich investors, who lost nearly $7 billon when mad
and he also made connections that gave him entree to europe, and the hedge funds capital of america, greenwich, connecticut. it was here that bernie madoff made some of his biggest deals with large investment firms that were willing to feed him billions of dollars of their clients' money to manage. and in return, bernie madoff agreed to pay these so-called feeder funds a fortune in annual fees. the largest of the feeder funds was the fairfield greenwich group. how much money did fairfield make...
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Nov 11, 2013
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because if you look -- >> like japan and europe? >> yeah. europe mainly. if you look from january 1st through, $103 billion has gone into mutual funds but only nine went into u.s. equities. so, there's still sitting on 3 odd trillion in fixed income and 2.7 in money market funds. >> let me add another voice to our exchange. g gemma godfrey joins us tonight from london. thank you for staying late, as always. >> thank you very much. >> two things that happened last week affecting the market, i think, this week. last week the ecb cut rates on thursday. then we had that very strong jobs report on friday. what do you see happening as we go into this new week here, gemma? >> well, the concern that's starting to eke out in terms of the ecb rate cut is the fact there was german opposition to this cut. the cut itself was maybe at best symbolic, at worst shambolic but it disincentivizes banks to lend. rates are already so low so it doesn't make much of a difference. what's coming to light now is germany opposed this rate cut. which means there's growing discourt in
because if you look -- >> like japan and europe? >> yeah. europe mainly. if you look from january 1st through, $103 billion has gone into mutual funds but only nine went into u.s. equities. so, there's still sitting on 3 odd trillion in fixed income and 2.7 in money market funds. >> let me add another voice to our exchange. g gemma godfrey joins us tonight from london. thank you for staying late, as always. >> thank you very much. >> two things that happened last...
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Nov 12, 2013
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obviously, europe has gone through an economic crisis as we have. at this moment in time, there's nothing more important to their economies than fostering entrepreneurship, helping companies raise capital in the same way we saw twitter do that here on the stock exchange. i want to give them more flexibility to become more continental european. and in doing that, i want to list them and take them public and allow them to have access to capital so they can grow. >> you would list them, then n their local countries, jeff? >> yes, exactly right. and we'll potentially continue to own a large stake in those companies. we'll give them their own capital, their own management team and focus on what our unique local markets that, honestly, as an american, i don't think i could do a very good job at. >> tell us about the margins in new york and how to get those higher for the new york stock exchange and really where the growth comes from as these companies combine. >> well, one of the the things i've been talking about, and you have i have talked about in the
obviously, europe has gone through an economic crisis as we have. at this moment in time, there's nothing more important to their economies than fostering entrepreneurship, helping companies raise capital in the same way we saw twitter do that here on the stock exchange. i want to give them more flexibility to become more continental european. and in doing that, i want to list them and take them public and allow them to have access to capital so they can grow. >> you would list them, then...
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Nov 13, 2013
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europe closed around 11:30 and we've been moving up. there's been a lot of speculation, that's all it is, about janet yellen's testimony. there's been speculation it might be very dovish. that would be bullish for the markets. i'm trying to figure out what's going on with tesla here. we had a drop in the middle of the day. there is a reporter, brian dinsmore, kpix reporter in san francisco that put out a tweet saying there was a fire at a factory in san francisco. that is a tweet. i don't have any independent confirmation of that. that's obviously why the stock drop. we're trying to check on it and confirm it independently. internet stocks have had a great day. this is a big thing because they've been under pressure the last week and a half. this looks like a little reversal today. same with chinese internet stocks, all over the place. generally down for the last two weeks. they're having a very good day. final lishgs retailers on the macy's news, just a great day for macy's, 3.5% comp sales. that was a big surprise. tomorrow is walmart
europe closed around 11:30 and we've been moving up. there's been a lot of speculation, that's all it is, about janet yellen's testimony. there's been speculation it might be very dovish. that would be bullish for the markets. i'm trying to figure out what's going on with tesla here. we had a drop in the middle of the day. there is a reporter, brian dinsmore, kpix reporter in san francisco that put out a tweet saying there was a fire at a factory in san francisco. that is a tweet. i don't have...
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Nov 15, 2013
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last week we added 2% to europe. 3% to u.s. large cap growth stocks. and 1% more to japan, maria. so, we would be very judicious, cautious, in adding here and selective, yes. >> david, i'm being half facetious about this question, but is there a reason to analyze this market beyond thinking about fed policy? i mean, once you know that the fed is not likely to taper any time soon, is there anything else that matters when it comes to buying this stock market? >> bill, i think the consumer is really the key here. next week, as you know, we get on wednesday the retail sales numbers. they're supposed to be down 0.1%. they've had a very hard time since july. up 0.6%. august, up 0.4%. septemb >> but cisco was horrible, down tremendously one day this week and the rest of the market didn't care because we were all talking about janet yellen that day. >> you said retail is critical here. a handful of retailers have been catching a big bid. look at macy's. look at jcpenney. you had real surprises in the upside. >> in stark contrast to the second quarter, all these ceos were cautious, tentati
last week we added 2% to europe. 3% to u.s. large cap growth stocks. and 1% more to japan, maria. so, we would be very judicious, cautious, in adding here and selective, yes. >> david, i'm being half facetious about this question, but is there a reason to analyze this market beyond thinking about fed policy? i mean, once you know that the fed is not likely to taper any time soon, is there anything else that matters when it comes to buying this stock market? >> bill, i think the...
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Nov 18, 2013
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lastly, europe. while the situation is improving it's still dealing with deflation, tepid growth and fiscal worries in greece, slower than expected recovery could impact the bottom line of some multinationals that do have exposure to the eurozone. >> thank you so much. the dow and the nasdaq aiming to close at milestone levels. 16,000 for the dow industrials. 4,000 for the nasdaq. dow is looking to have a better shot of hitting that mark at the moment. >> at the moment. but anything can change. in this market, are we in a bubble territory, far from it? what should you do with this given the kind of gains we've seen since the market bottom of march of 2009? go back to early in the year 2000. in fact, if the teleprompter will keep moving i'll make my case. who's running prompter today? the market isn't up at all. we had this lost decade going back to 2000 where the dow hit 10,000, fell and then finally got back to it a decade later. but are we in bubble territory now that we've gone from 10,000 to 16,0
lastly, europe. while the situation is improving it's still dealing with deflation, tepid growth and fiscal worries in greece, slower than expected recovery could impact the bottom line of some multinationals that do have exposure to the eurozone. >> thank you so much. the dow and the nasdaq aiming to close at milestone levels. 16,000 for the dow industrials. 4,000 for the nasdaq. dow is looking to have a better shot of hitting that mark at the moment. >> at the moment. but anything...
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Nov 19, 2013
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they have great access to credit still in europe. for the longer term or disciplined investor, three, five years up, still attractive. >> we've established the alps are the value line of europe, is that it? >> i have to get there. >> that's it. >> i have to go find these values. >> you know what's south of the alps there. you've fwln a few times. >> yes. thank you so much. >> thank you. >> we'll come back with the closing countdown and see what can happen with the dow down 16 points. >> after the bell we talk about activist investors. nelson, was he behind dupont's move to spin off the chemicals unit? ceo ellen kullman will be with me, she tells me if she has any plans to meet with pelts. the ocean gets warmer. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. became big business overnight? â™
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Nov 22, 2013
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and now talk that europe has bottomed. where do you want to allocate capital? >> i would look at china and brazil. emerging markets are some of the cheapest out there right now. when you think about the world will look like 20 years from now, u.s. will probably be the biggest economy still but china, brazil, india, russia will be some of the biggest economies. right now trading at 12 times earnings. that's cheap. undervalued. >> sounds like what we were talking about five years ago, doesn't it? >> we had that interruption -- >> what are you suggesting? are we going to see a repeat after that? >> we'll see how long it goes. >> not to the extent we'll see where things collapse. but the disruptive themes -- >> you think about 2008, pes were at 20, 21. right now they're at 17. the market's arguably 25% cheaper than it was then. and there's all this money going into the markets. it's a little different market -- >> just the themes. the markets are different but themes continue to be the same ones. >> mary, good to talk with you. thank you so much. see you later. >>
and now talk that europe has bottomed. where do you want to allocate capital? >> i would look at china and brazil. emerging markets are some of the cheapest out there right now. when you think about the world will look like 20 years from now, u.s. will probably be the biggest economy still but china, brazil, india, russia will be some of the biggest economies. right now trading at 12 times earnings. that's cheap. undervalued. >> sounds like what we were talking about five years ago,...
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Nov 29, 2013
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we're still wondering what the impact of, say, looser policy in europe could be back here. as you watch the 10-year hit the 2.75% level, what's your take? >> well, my take is that interest rates, since the last fed meeting -- as you see on the charts -- have continued to move higher along with stocks. now, we understand that the stock market moving higher along with interest rates might be normal in a bygone time, but it really is t.i.n.a. time. there is no alternative. the real head-turner continues to be stocks and how they get along with rising rates -- we can call it a t.i.n.a. turner market, then. in the end, i think the stock market is going to have to stand up and pay attention to higher rates if, for nothing else, even with the steep curve it calls into question a lot of the metrics we use to assess whether we're in a bubble or not, and one final thought. the dollar index has been riding the same pattern with stocks and interest rates, but it seems to be heading in the other direction. a little curve to it. so i would pay very close attention not only to the strengt
we're still wondering what the impact of, say, looser policy in europe could be back here. as you watch the 10-year hit the 2.75% level, what's your take? >> well, my take is that interest rates, since the last fed meeting -- as you see on the charts -- have continued to move higher along with stocks. now, we understand that the stock market moving higher along with interest rates might be normal in a bygone time, but it really is t.i.n.a. time. there is no alternative. the real...
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Nov 7, 2013
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even lower range in europe. >> it's by far the defining fundamental economic issue of the day. everything was jostled around it created a lot of volatility. what's the aftermath? any goodwill that was put into world equities and indeed u.s. equities was rather short lived. though the dax is one of the eurozone indexes that did close up, less than half of 1%. but let's look at the charts. is this is a chart of 10-year note yields since the last fed meeting. yes, we were affected. yields initially went down just like they did around the world. but not much in the u.s. and we're still 14 basis points intraday lows of the wednesday of the fed's statement. if you look at the difference between 5s and 10s it's been a parallel shift on the down moving interest rates today. still hovering at 1.30-ish. what about the spread to 10 year bunds? they were down more than u.s. 10-year notes predicated on what the ecb did. we're looking at that chart right now year to date. we're over 90. we're going to continue to see -- what does that mean for capital flows? maybe the last chart is the most
even lower range in europe. >> it's by far the defining fundamental economic issue of the day. everything was jostled around it created a lot of volatility. what's the aftermath? any goodwill that was put into world equities and indeed u.s. equities was rather short lived. though the dax is one of the eurozone indexes that did close up, less than half of 1%. but let's look at the charts. is this is a chart of 10-year note yields since the last fed meeting. yes, we were affected. yields...
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Nov 13, 2013
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what about europe, john? this is an area, of course, that has been seeing new inflows, a lot of talk about whether or not we have seen the worst there. what are you seeing? >> we said last quarter we anticipated just gradual but slow improvement, without giving away too much of what we want to talk about in the call, i think some things have not changed dramatically but it's not going down. southern europe is still very challenging. central europe, very -- showing continued improvement, especially around germany. >> germany has been the leading grower in europe. that's still the case. and the south is really -- has been where the trouble has been. >> yes. we don't see that changing. we look for growth in the central and hopefully northern part of europe, including the uk. we see the south challenging. >> and in terms of the u.s., back in april you said this economy was challenging. it was inconsistent. how would you characterize the u.s. right now, john? >> exactly the same way, maria. we'll talk about it, ou
what about europe, john? this is an area, of course, that has been seeing new inflows, a lot of talk about whether or not we have seen the worst there. what are you seeing? >> we said last quarter we anticipated just gradual but slow improvement, without giving away too much of what we want to talk about in the call, i think some things have not changed dramatically but it's not going down. southern europe is still very challenging. central europe, very -- showing continued improvement,...
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Nov 18, 2013
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on balance, not so much in u.s., but europe, japan and china. european schiller cape ratios stand at 40% discount to that of the united states. earnings growth europe is expected to grow to double digit pace in 2014. japan we know we're starting to see the workings finally get friction from shinzo abe's efforts, not just on monetary policy but fiscal reform. china is selling at basically a standard deviation under the global mean price to earnings ratio, suggesting we're seeing the cheapest valuations in china today as we've seen any time over the last decade. it's not an indictment of u.s. equities. it's just to say on balance where would we feel more comfortable putting capital today. it would actually be in international markets as opposed to american markets. >> it's interesting you bring up china. our guest in the last hour mentioned the same thing. are you telling me you would think selling u.s. and buying in china? >> certainly not dollar for dollar but rebalancing capital, we would suggest a source of funds would be u.s. equities and in
on balance, not so much in u.s., but europe, japan and china. european schiller cape ratios stand at 40% discount to that of the united states. earnings growth europe is expected to grow to double digit pace in 2014. japan we know we're starting to see the workings finally get friction from shinzo abe's efforts, not just on monetary policy but fiscal reform. china is selling at basically a standard deviation under the global mean price to earnings ratio, suggesting we're seeing the cheapest...
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Nov 19, 2013
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>> northern europe has always had much more strength than southern europe. we're seeing southern europe bottom. you know, eastern europe, places like in eastern europe have still shown great growth, so it's actually not bifurcated. it's trifurcated if you include eastern europe. >> good point. we see another big fight going into the debt ceiling debate. is that going to hamper business that much more? >> i hope we don't see it. i hope we figure out a way to get there. i don't think there will be a grand deal but i think there's a way to make it such that it creates a little more certainty going forward. i think that will help the u.s. economy. i think it will help industrial production. i think it's held back industrial production in the united states in 2013. and i think we really need it to create a good forward momentum in 2014. >> great to have you on the program. >> great to see. >> you you, too. >> ellen kullman, chairman and ceo of dupont. >>> $13 billion should be a lot -- be able to buy a lot, but is it enough to protect jpmorgan from future federal
>> northern europe has always had much more strength than southern europe. we're seeing southern europe bottom. you know, eastern europe, places like in eastern europe have still shown great growth, so it's actually not bifurcated. it's trifurcated if you include eastern europe. >> good point. we see another big fight going into the debt ceiling debate. is that going to hamper business that much more? >> i hope we don't see it. i hope we figure out a way to get there. i don't...
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Nov 5, 2013
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around the world, the growth -- synchronized growth between developed countries like japan, china, europe now coming out of recession, uptick in growth, and continued growth in u.s., we think this market has further to go. >> so, in other words, what about this report today in terms of the fed potentially keeping rates at extraordinarily low levels for a decade, even taking their marker of 6.5% unemployment down to 5.5%. you believe that? >> well, what it means is the fed is on our side for even longer than we thought previously. we had the marker we thought it would take us out into 2015 before they started raising rates. pa tapering is still in question. the fed is on our side now. we're at fair value for stock valuations, ultralow interest rate environment, which is going to be with us even longer. >> rick santelli, you've been shaking your head throughout that. what are you shaking your head about, the fed? >> well, first of all, saying -- the report says fed can keep interest rates low for a decade. that's untrue. it's untrue. they can keep short rates that they have control of low f
around the world, the growth -- synchronized growth between developed countries like japan, china, europe now coming out of recession, uptick in growth, and continued growth in u.s., we think this market has further to go. >> so, in other words, what about this report today in terms of the fed potentially keeping rates at extraordinarily low levels for a decade, even taking their marker of 6.5% unemployment down to 5.5%. you believe that? >> well, what it means is the fed is on our...
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Nov 1, 2013
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ultimately, if you see where trades are crowded, you know, europe and japan are more crowded trades than the u.s. here. when people look at the u.s., there has been talk today, the other thing on the floor, there is numbers out on the valuation of the s & p, it rose 20% this month. that's nowhere near, in other words way beyond what you have seen historically, when you look at complacency level, when you look at bearish levels, the aaii, investor survey that looks out six months. we haven't seen this level of lack of bearishness or low levels ober reading since 2005. leverage on the new york stock exchange, i'm talking prime brokers, leverages on where funds are putting assets to work. we haven't seen this. the ipo schedules. so all of these things tell you, people, consumers, bond flows -- equity flows are places people want to be. >> the other part of that bank of america note was pointing out that fund manager cash levels were high. 4.4% month of october. he says if it goes below 4% in the month of november, that could be a sell signal. this idea there is so much cash on the sidelines
ultimately, if you see where trades are crowded, you know, europe and japan are more crowded trades than the u.s. here. when people look at the u.s., there has been talk today, the other thing on the floor, there is numbers out on the valuation of the s & p, it rose 20% this month. that's nowhere near, in other words way beyond what you have seen historically, when you look at complacency level, when you look at bearish levels, the aaii, investor survey that looks out six months. we haven't...
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the importance of europe is everything at the moment. >> yeah. >> oh, you're here. hello. >> yeah, right here. a lot of focus on certainly what's happening there, a lot of focus on the individual stocks, and there is also, simon, a lot of focus on the value of the euro. our next guest gave you a trade the other day that looks awfully good right now. paul richards is back live with where that currency may go next. welcome back. >> hey, scott. >> it was a great call you made. did you call the top in the euro at 1.38? >> i think this year i probably called the top. the ecb going one way, the fed headed another. it might be heading to 1.33. >> selling it hit? >> i'm comfortable. they will cut rates in some shape or form, and talk about it next thursday, and the fed might be in the process of tapering before we talk about it. >> maybe the ecb was finished cutting rates for a while, now with the data simon was bringing us, in his words, the european story is in tatters? >> not quite in tatters. they need a little longer. they're behind the u.s. in terms of recovery. >> le
the importance of europe is everything at the moment. >> yeah. >> oh, you're here. hello. >> yeah, right here. a lot of focus on certainly what's happening there, a lot of focus on the individual stocks, and there is also, simon, a lot of focus on the value of the euro. our next guest gave you a trade the other day that looks awfully good right now. paul richards is back live with where that currency may go next. welcome back. >> hey, scott. >> it was a great call...
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Nov 11, 2013
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another area is europe. i agree with you. i was wondering, for me, once the debt ceiling issue, if it's put to bed, i overweight the u.s. >> the u.s. represents 50% of the world's capital markets right now. and we're approximately 20% of worldwide gdp. so if i'm an investor thinking about putting a portfolio together, you start with the market weighting of 50%, most investors are i think are largely invested in the u.s. than that have and less than 50% of portfolios in foreign markets i'm think that, yes, i would take a look at u.s. market and i would stay diversified why limit yourself to one you'd curve with everything going on with the u.s. government, interest rate changes, inflation, deflation, i think diversifying across yield curves, across markets makes good sense. >> take a look at emerging markets, when the shutdown occurred, those markets came down significantly. so the reason why you invest in the u.s. is because you have transparent accounting, you shouldn't be 100% there but should be in my view 50% there, and c
another area is europe. i agree with you. i was wondering, for me, once the debt ceiling issue, if it's put to bed, i overweight the u.s. >> the u.s. represents 50% of the world's capital markets right now. and we're approximately 20% of worldwide gdp. so if i'm an investor thinking about putting a portfolio together, you start with the market weighting of 50%, most investors are i think are largely invested in the u.s. than that have and less than 50% of portfolios in foreign markets i'm...
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Nov 5, 2013
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from europe. we're in a slow-growth environment at the five years into this unprecedented easing. >> let's not underestimate the risks that are out there. >> right. >> and there are some. however, it brings me back to the "don't fight the tape, don't fight the fed," and whether those two notions are more powerful than anything else that can be seen at the moment by investors. >> of course, it is. it's a massive sea of liquidity, the cost of capital, the companies, it continues to work in their favor. commodity costs are moving lower. let's not make the mistake of thinking that euphoria -- euphoria implies the end of this five-year bull market. let's not make that mistake. potentially, a correction is ahead of us, yes. but what is on the other side of the correction, i think opportunity. >> don't beat the ecbi either. mario dragi, the inflation ticked down. it's close to disinflation. so you're going to see, i believe, dragi come out, if he doesn't he's, he's bernanke-ize the market, saying i'll st
from europe. we're in a slow-growth environment at the five years into this unprecedented easing. >> let's not underestimate the risks that are out there. >> right. >> and there are some. however, it brings me back to the "don't fight the tape, don't fight the fed," and whether those two notions are more powerful than anything else that can be seen at the moment by investors. >> of course, it is. it's a massive sea of liquidity, the cost of capital, the...
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Nov 12, 2013
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europe's nestle's, how are you able to compete? >> we don't sell these products in europe. we sell silk equivalent products. it's the leading dairy alternative product in europe. we have about a 40 share. growing like crazy. really driven by fantastic non dairy yogurt products we're bringing to the united states and the introduction of almond milk. >> throughout the conference call, this may be time for m&a. a lot of little guys throughout. 2014 for your company? >> if we find the right thing. what we've told people since we started marketing, we're a certain kind of business. we have five brands. $500 million brands. we run those kinds of businesses well. we're looking for brands in categories that are or can be big, that are maintaining our growth rate. we're a growth company and on trend categories, where we see long term trailing in our back so we continue to grow. >> i tell people, just because whole foods may not have a strong quarter, doesn't mean they are not selling more than ever. they are. ceo of white wave foods company. you know i like them. we'll be right back
europe's nestle's, how are you able to compete? >> we don't sell these products in europe. we sell silk equivalent products. it's the leading dairy alternative product in europe. we have about a 40 share. growing like crazy. really driven by fantastic non dairy yogurt products we're bringing to the united states and the introduction of almond milk. >> throughout the conference call, this may be time for m&a. a lot of little guys throughout. 2014 for your company? >> if we...
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who else is doing that number in europe? since we last spoke to the ceo back in august, up 25% since it became public 2012 hitting a new hi today. can they keep up momentum? the chairman and ceo of white wave foods. welcome back to mad money. >> great to see you too. >> this is growing at a pace of almost nothing i've seen in my life. why? >> it's a monster. look there are a number of factors to make silk. it is an alternative to dairy. people are look to heldle thinkier alternatives. dairy is a huge category. $25 billion in sales. there's a lot of room to grow. the particular segment of the population looking for great nutrition and lower calories. almond is a fantastic low calorie alternative. >> you have a new one that's one-third the calories? >> lighter than light. fantastic product, great satisfaction performs well in the cereal bowl and beverage occasion. great satisfaction in the market. >> your company has the ability because of plant based products to have expanded margins for multiple years i have to believe. >> i
who else is doing that number in europe? since we last spoke to the ceo back in august, up 25% since it became public 2012 hitting a new hi today. can they keep up momentum? the chairman and ceo of white wave foods. welcome back to mad money. >> great to see you too. >> this is growing at a pace of almost nothing i've seen in my life. why? >> it's a monster. look there are a number of factors to make silk. it is an alternative to dairy. people are look to heldle thinkier...
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Nov 15, 2013
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i think europe is still turning for them, china is strong for them, especially the volkswagen recall will only help gm. buy gm, not sell it. michael in virginia? >> caller: hey, jim. thank for having me on. >> no problem. >> caller: i'm going clean energy, clne, down $11.75 a few days ago. today it closed at $13 a share. i'm just wondering what you think about the company and where it's going from here. >> i believe in the concept of clean energy. i think andrew littlefair has done a remarkable job in the face of a government that does not favor fossil fuels, perticularly natural gas. that said, i think this is a speculation. if you have a nice profit in spec, you know what i say, always take it. sorry to burst your bubble, but i'm not giving up on this market. not here. not now. we're going to keep an eye on things and we're going to do it together. but i do not sanction leaving this market while i never mind you taking a profit. "mad money" will be right back. >> announcer: coming up, secret ingredient? satisfying stocks. super sized returns. cramer's "hunger gains" series continue
i think europe is still turning for them, china is strong for them, especially the volkswagen recall will only help gm. buy gm, not sell it. michael in virginia? >> caller: hey, jim. thank for having me on. >> no problem. >> caller: i'm going clean energy, clne, down $11.75 a few days ago. today it closed at $13 a share. i'm just wondering what you think about the company and where it's going from here. >> i believe in the concept of clean energy. i think andrew...
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Nov 16, 2013
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awareness in europe, awareness in london still very low. i find that hard to believe, frank. >> you know what, jim, it's exactly what we saw about ten years ago when we entered new markets in the u.s. where we would open up and people didn't understand that chipotle is different than other mexican food or different than other burritos that you might have. what's encouraging, though, we're seeing very similar sales trends in europe that we saw early in the u.s. meaning, you start out at a relatively low sales level, because people just don't know you're there. as they discover you, they come back more often, bring friends, so we're seeing some really nice sales trends. and if you line up the early london results to what we saw in the early u.s. market, we're seeing very real similarities and that gives us a lot of optimism for what's ahead of us in europe. >> one last question. i was thrilled to hear that shophouse is well ahead of where -- in terms of growth, to where chipotle was at this point. >> yeah, shophouse is off to a great start. s
awareness in europe, awareness in london still very low. i find that hard to believe, frank. >> you know what, jim, it's exactly what we saw about ten years ago when we entered new markets in the u.s. where we would open up and people didn't understand that chipotle is different than other mexican food or different than other burritos that you might have. what's encouraging, though, we're seeing very similar sales trends in europe that we saw early in the u.s. meaning, you start out at a...
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Nov 16, 2013
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we're seeing similar sales trends in europe that we saw early in the u.s. meaning you start out at a relatively low sales level because people don't know you're there. as they discover you they come back more often and bring friends. we're seeing nice sales trends and if you line-up the early london results to the early u.s. market, we're seeing very real similarities and that gives us a lot of optimism for what's ahead of us in europe. >> i was thrilled to hear that chop house is well ahead in terms of growth to where chipotle was at this point. >> yeah, it's off to a great start. it's a great example of -- we don't think we're special because of burritos and tacos. we think it's because of our food culture and people culture and business model. but we can add more variety by offering a different cuisine in a similar model and chop house is that model. the food is is delicious. the teams are terrific. we have five restaurants open now. three in d.c. and two in l.a. we're very optimistics about where it will go from here. >> as always i'm thrilled you have
we're seeing similar sales trends in europe that we saw early in the u.s. meaning you start out at a relatively low sales level because people don't know you're there. as they discover you they come back more often and bring friends. we're seeing nice sales trends and if you line-up the early london results to the early u.s. market, we're seeing very real similarities and that gives us a lot of optimism for what's ahead of us in europe. >> i was thrilled to hear that chop house is well...
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Nov 20, 2013
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. >> caller: i just heard that gilead sciences has approval to sell a new drug in europe. i recently took a profit in gilead. is it still possible to get back into gilead with no money? >> i wish you hadn't taken a profit. gilead is a company that i think will be multi-year on fire. this market has been chopping for high price to earnings multiple stocks. i want you, marilyn, to get back into the stock if it does fall a point or two, which is certainly possible in this choppy market. can i go to lance, please, in new jersey? lance. >> caller: hey, jim, how are you doing? i love your show. i'm from bridgeport, new jersey. >> excellent. >> caller: my question is, with ballmer stepping down from chief executive and changes in the company, what do you think of microsoft as a dividend paying stock for future growth? >> i think microsoft is very expensive, i think it factors in the idea there will be no real growth in personal computers. it has two points downside and four to five upside. i will take that risk reward ratio any day of the week. mark in new hampshire. >> thanks fo
. >> caller: i just heard that gilead sciences has approval to sell a new drug in europe. i recently took a profit in gilead. is it still possible to get back into gilead with no money? >> i wish you hadn't taken a profit. gilead is a company that i think will be multi-year on fire. this market has been chopping for high price to earnings multiple stocks. i want you, marilyn, to get back into the stock if it does fall a point or two, which is certainly possible in this choppy...
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Nov 21, 2013
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they have people in japan, europe, china, u.s., et cetera, we're delivering them a salesforce automation tool on the ipad that their people can walk into doctors offices around the world and show the benefits of their product, educate those doctors so doctors can provide their medicine effectively. that's the biggest thing. >> but the veeva network would be able to indicate where their investment is coming from. >> that's the next thing is the veeva network product. that allows them to target the physicians more effectively. >> last question is a little difficult. you came from salesforce.com. people don't understand a lot of the dream force companies are on the salesforce platform, they have still connected to sales force. what are you doing with it? >> well, mark and i have had a relationship -- >> you worked there -- >> for ages. but in terms of veeva and salesforce.com. we leverage salesforce.com for the core platform. we wanted to focus on this tailored applications and have salesforce focus on the platform, the security customization, integration, it's a much better way of doing th
they have people in japan, europe, china, u.s., et cetera, we're delivering them a salesforce automation tool on the ipad that their people can walk into doctors offices around the world and show the benefits of their product, educate those doctors so doctors can provide their medicine effectively. that's the biggest thing. >> but the veeva network would be able to indicate where their investment is coming from. >> that's the next thing is the veeva network product. that allows them...
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Nov 23, 2013
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economic world view does matter -- second host of the end of the year drug approvals particularly from europe. consider in the last 24 hours alone we've had a ton of good news. gilead got a market for supporting the pill for a hugely problematic condition. that put strength in the company's core hiv franchise causing analysts to boost numbers for this giant which many thought was going to slummer right into 2014. a european panel approval for a drug to fight pancreatic cancer. skeptics are being proven wrong. that along with negative chatter about some rumblings about toxicity problems has put a pep in the step. which had been stalled in the 150s for quite a bit. now, celgene is breaking out to new highs. i follow because i believe it can earn $15 a share in 2013. yep, when you look at the out years, meaning more than just 2014, this company is even cheaper than pfizer, lily and bristol-myers. this stock jumped 20 points before the opening bell rang and continued to go higher because it got the nod for the new drug. biotech is a funny animal here. i don't know anyone who wasn't close to this
economic world view does matter -- second host of the end of the year drug approvals particularly from europe. consider in the last 24 hours alone we've had a ton of good news. gilead got a market for supporting the pill for a hugely problematic condition. that put strength in the company's core hiv franchise causing analysts to boost numbers for this giant which many thought was going to slummer right into 2014. a european panel approval for a drug to fight pancreatic cancer. skeptics are...
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Nov 26, 2013
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i just came back from europe. our business in europe is growing nicely. here, vegetarian. hey, you know there's 30 million students out there and a big percentage of them are going vegetarian or vegan products. are you talking to me off-camera, but you & come back and look at consumer, looking for less protein today and here is a big growth area for us. here's the non-dairy, gluten-free. >> it's a hain thanksgiving right here. >> here is gluten-free. so all of these products are hain products today, and like i said, the consumers will buy 50 million turkeys during thanksgiving. what is it? 78% of the population will eat turkey during thanksgiving, or a vegetarian turkey. >> you've got every base covered. i have a hard time with the critic because the stock has made a lot of money. irwin simon, hain celestial, after the break, we'll try to make you more money. >>> coming up, cosmic cash? the solar sector went from cloudy to shooting star this year. can stand-out stock first solar has been leading the charge. it's nearly doubled this year but is its future still brighter? do
i just came back from europe. our business in europe is growing nicely. here, vegetarian. hey, you know there's 30 million students out there and a big percentage of them are going vegetarian or vegan products. are you talking to me off-camera, but you & come back and look at consumer, looking for less protein today and here is a big growth area for us. here's the non-dairy, gluten-free. >> it's a hain thanksgiving right here. >> here is gluten-free. so all of these products are...
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Nov 8, 2013
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far more important today was an interest rate cut by the european central bank to ensure that europe's economies don't contract. the europeans have long memories and in 1920 germany caught the deflation bug. there wasn't enough money in the system to support any economic activity. that then led to hyperinflation. germany turned on the deutsche mark printing presses and that destroyed most of the nation's savings base. running around with wheelbarrows full of deutschmarks. they view the deflation, hyperinflation cycle as the rise of hitler and nazi party and do anything to avoid a repeat of what occurred. this move caught some people off guard. i can recall people saying just this very morning when i got up at 3:30, we're waiting for a surprise rate cut. hmm, a few hours before we got the surprise rate cut. as soon as it happened, the dollar shot up which caused dollar denominated commodities to get crushed. on top of a slowdown in china, it spurred decline in oil. the question will be independents. the ones who doing fabulously. eog. the reversal in fortunes can be a buying opportunity
far more important today was an interest rate cut by the european central bank to ensure that europe's economies don't contract. the europeans have long memories and in 1920 germany caught the deflation bug. there wasn't enough money in the system to support any economic activity. that then led to hyperinflation. germany turned on the deutsche mark printing presses and that destroyed most of the nation's savings base. running around with wheelbarrows full of deutschmarks. they view the...
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Nov 9, 2013
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we like them very much because of the turns in both europe and china. europe is getting very strong. despite what you heard about the french s&p downgrade. and if employment stays strong here and we don't get anymore child-like antics from washington, we could hear some terrific things about 2014 when we listen in to this conference. thursday is retail day. we have three of a different kind, we have walmart, coastkoh and nordstrom's. i have a controversial call on retail because it's optimistic and happy. i know that's not in sync with anything you're supposed to hear. i think it will be a good holiday season in part because the cost of gasoline is coming down a lot. and that is directly, directly relational. i also believe that october turned out to be a stronger month than the people think. that means we can hear good things from the low things at walmart and the high end at nordstrom's. i'd prefer to buy nordstrom's. if only because it has fallen behind the group and it's a superior operator. i have been nervous about apparel, but the number we got f
we like them very much because of the turns in both europe and china. europe is getting very strong. despite what you heard about the french s&p downgrade. and if employment stays strong here and we don't get anymore child-like antics from washington, we could hear some terrific things about 2014 when we listen in to this conference. thursday is retail day. we have three of a different kind, we have walmart, coastkoh and nordstrom's. i have a controversial call on retail because it's...
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Nov 8, 2013
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europe is getting very strong. and if employment stays strong here and we don't get any more child like antics from washington, we could hear some terrific things about 2014 when we listen in to the conference. thursday is retail day. we have walmart, kohl's and nordstrom. i have a controversial call on retail because it's optimistic and happy. i know that's not in sync with anything you're supposed to hear. i think it will be a good holiday season in part because the cost of gasoline is coming down. i believe that october turned out to be a stronger month than the people think. that means we can hear good things from the low things at walmart and the high end at nordstroms. i'd prefer to buy nordstrom's. i have been nervous about -- with the number we got from gap stores today. it was incredibly reassuring. on thursday we get to hear about one of my favorite companies viacom. this is a terrific stock even better than the company. that's because of their ferocious buy back. one that rivals autozone and firestone. f
europe is getting very strong. and if employment stays strong here and we don't get any more child like antics from washington, we could hear some terrific things about 2014 when we listen in to the conference. thursday is retail day. we have walmart, kohl's and nordstrom. i have a controversial call on retail because it's optimistic and happy. i know that's not in sync with anything you're supposed to hear. i think it will be a good holiday season in part because the cost of gasoline is coming...
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Nov 1, 2013
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now, europe is harman's largest market. when the company reported a blowout quarter this morning, like the red sox's blowout victory over the cardinals in game six last night, it was a big deal. one more data point confirming the turn in europe's economy is real. 11% earnings beat off an 84 cent basis. higher than expected revenues. 17.4% increase over the year. this is a $5.7 billion company that wracked up new businesses in the quarter. the stock soared $9. 13%. epic move. harman is now giving you a remarkable 130% return since we last spoke to the ceo back in june of last year. so more than a double, less than 18 months, and even after this run, the stock is inexpensive. 17 times next year's earnings, 18% long-term growth. let's check in with the bankable dinesh paliwal, president and ceo of harman international, we've been around for a long time, learn more about the fabulous quarter and where it is headed. welcome back to "mad money." >> great to be here. >> i need you to do something. people are going to say, well, wa
now, europe is harman's largest market. when the company reported a blowout quarter this morning, like the red sox's blowout victory over the cardinals in game six last night, it was a big deal. one more data point confirming the turn in europe's economy is real. 11% earnings beat off an 84 cent basis. higher than expected revenues. 17.4% increase over the year. this is a $5.7 billion company that wracked up new businesses in the quarter. the stock soared $9. 13%. epic move. harman is now...
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Nov 12, 2013
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he expressed concerns as well about what's going on in various economies around europe. let's take a quick listen to that. >> there's greater and greater pressure on the french government today to create some reforms. just downgraded. i don't think in ten year's time we're going to have a euro if we don't have a strong france and germany. it's predicated on two very strong currencies and the competitiveness of france is still deteriorating. >> in the view of fink, the future of the euro hangs still much in the balance. that echoed a little bit what we heard from ray of bridgewater associates earlier. he had an audience question about france and talked about the heavy load imposed by debt service payments that france is facing and he said he thinks all of that big picture puts it on par with southern europe in terms of its economic stability right now. tough words right there. one other thing i should mention again, dan loeb in an exclusive interview with andrew ross sorkin talked about a number of issues but a surprise disclosure given strength to the market is his fedex
he expressed concerns as well about what's going on in various economies around europe. let's take a quick listen to that. >> there's greater and greater pressure on the french government today to create some reforms. just downgraded. i don't think in ten year's time we're going to have a euro if we don't have a strong france and germany. it's predicated on two very strong currencies and the competitiveness of france is still deteriorating. >> in the view of fink, the future of the...
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Nov 14, 2013
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lived in asia, i think a lot of companies that do business in asia, not just asia but also eastern europe and latin america, i mean, this is the way large companies often do business. you basically, you know, get close to the local culture and the politics through the relations and the family members of the top guys. so i think a lot of companies are going to be looking closely at this thing. we all thought everyone did it and it was fine. >> right. absolutely. let's move on to asset bubbles which janet yellen basically addressed earlier this morning saying she doesn't see one, but, you know, the art market, robert, just seems to be forming a bubble. although we've been saying that for a couple years now. >> i know. based on what she's saying, no sign that's going to pop any time soon. art prices have always been abstract to most of us, but now they're downright surreal. last night's sotheby's auction ended with andy warhol's car crash. it sold way ov the $80 million estimate marking a record all-time for warhol. he also paid off for steve cohen, he sold off more than $70 million worth of
lived in asia, i think a lot of companies that do business in asia, not just asia but also eastern europe and latin america, i mean, this is the way large companies often do business. you basically, you know, get close to the local culture and the politics through the relations and the family members of the top guys. so i think a lot of companies are going to be looking closely at this thing. we all thought everyone did it and it was fine. >> right. absolutely. let's move on to asset...
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Nov 27, 2013
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europe. they don't realize the repair that's taken place in the economies and how much better it things are. but you can also play that through great multinational u.s. companies and to that i would point a lot of our industrial companies have 50 percent of their earnings coming from these growth economies outside of the united states and they also haves this great u.s. economy and i would focus on those kind of names. i would add energy to that. here we've sat at $100 oil for two or three years. >> right. >> we're just starting to get the valuation in those names. there's a lot of places to go in this market, and worrying about the taper is never going to make you any money. >> thank you very much. we'll leave it there. very interesting discussion. have a wonderful thanksgiving to both of you. >> thank you. >> ty, up to you. >> another big story this day before thanksgiving is the weather. the weather channel's carl parker having a busy day. >> hi there, not the worst of storms we're looking
europe. they don't realize the repair that's taken place in the economies and how much better it things are. but you can also play that through great multinational u.s. companies and to that i would point a lot of our industrial companies have 50 percent of their earnings coming from these growth economies outside of the united states and they also haves this great u.s. economy and i would focus on those kind of names. i would add energy to that. here we've sat at $100 oil for two or three...
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Nov 4, 2013
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>> europe, europe is very interesting. it's recovering really well. >> what part of europe and are you buying individual companies or are you putting a blanket over more of a country play? >> well, i think beginning of the year we are buying those that were laggards and now we're going for quality because we believe the recovery has partly been reflected into the markets. we're going for quality and growth. >> growth. all right. let me talk about your u.s. treasury holdings. the bank of china owns an awful lot of u.s. debt and we went through a difficult time in washington. did that worry you at all? did you ever consider diversifying out of your u.s. treasuries given the dysfunction in washington? >> well, i think i would look at it from a macro perspective. if you take into account the exposure to treasuries from all the state owned enterprises the figure would be much bigger than the official $1.3 trillion. obviously we'll continue to invest in the u.s. market, the largest in the world, but we need to look for ways to d
>> europe, europe is very interesting. it's recovering really well. >> what part of europe and are you buying individual companies or are you putting a blanket over more of a country play? >> well, i think beginning of the year we are buying those that were laggards and now we're going for quality because we believe the recovery has partly been reflected into the markets. we're going for quality and growth. >> growth. all right. let me talk about your u.s. treasury...
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Nov 5, 2013
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situation for consumption and also some of the head winds from fiscal policy, some of the head winds from europe and some of the lingering effects of the financial crisis should start abating. >> all right. cnbc.com's jeff cox also talking about fed matters, jobs and a possible target change. jed you were saying -- >> relax. >> i haven't done this very often, you know, sometimes i get a little carried away. >> i got you. >> so the fed has said they won't start ratcheting up interest rates until unemployment drops to 6.5%. >> right. >> but you're reporting is indicating what? >> well, if this was a football field we'd call it moving the goal post. what i'm seeing, there are two papers that were filed this week that are going to be presented at imf conference that suggest the fed will not move now until the rate drops to 6%, maybe even 5.5%, which suggests now that we won't see rate increases out maybe until 2017. so you ask yourself, the market's been so dependent on the low interest rates so would this be normally bullish? you would think under normal circumstances to hear the fed is going to st
situation for consumption and also some of the head winds from fiscal policy, some of the head winds from europe and some of the lingering effects of the financial crisis should start abating. >> all right. cnbc.com's jeff cox also talking about fed matters, jobs and a possible target change. jed you were saying -- >> relax. >> i haven't done this very often, you know, sometimes i get a little carried away. >> i got you. >> so the fed has said they won't start...
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Nov 6, 2013
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>> i'm keeping a close eye on a relapse in europe. the recovery is fragile but that's typical coming out. i think investors aren't paying enough attention to the middle. there could be a shock out of there. i'm not worried about china in that sense. basically what keeps me awake is washington. we need a more business-friendly, functional washington, for the markets to have a good year in 2014. >> all right. joe, thanks for joining us. always a pleasure to speak with you. joaquinlan, chief market strategist. >> folks, thank you. the nasdaq dropping a bit today. there are several reasons why and you see that steep intraday fold. it's not all that dramatic, 13 points, it was higher earlier and then fell off the table. sheila dharmarajan is at the nasdaq. >> tyler, very unusual. you rarely see the nasdaq down on a day when the s&p and dow are so strong. but that's what we are seeing today, both the nasdaq 100 and composite down about .3%. a lot of selling happening. tesla, down more than 15%. of course that earnings report that deliveries
>> i'm keeping a close eye on a relapse in europe. the recovery is fragile but that's typical coming out. i think investors aren't paying enough attention to the middle. there could be a shock out of there. i'm not worried about china in that sense. basically what keeps me awake is washington. we need a more business-friendly, functional washington, for the markets to have a good year in 2014. >> all right. joe, thanks for joining us. always a pleasure to speak with you. joaquinlan,...
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Nov 1, 2013
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big advantage over europe. you see the ceos in europe saying we're at a big advantage. our electricity costs are twice that of the u.s. and our gas prices, natural gas prices are three times as high. so if you're in one of those businesses, the u.s. will be a great place to invest. >> there's a lot of carbon hysteria in europe, as well. and there's laws that may or may not stay on the books. the one in australia may or may not stay on the books, as well. let me ask you a frank question. is it ironic that the white house is behind this push that has to do with all this hydrocarbon production? are they comfortable being big proponents of this whole new area of energy? >> well, i think if you take a look, you know, foreign direct investment is down. it was rising coming out of the recession -- coming out of the recession, but it dipped this year. going to be much lower, $160 billion, $170 billion. i think there's real concern about not only domestic investment but foreign direct investment. and energy is the obvious place. i mean, it's the one big thing that there's a trem
big advantage over europe. you see the ceos in europe saying we're at a big advantage. our electricity costs are twice that of the u.s. and our gas prices, natural gas prices are three times as high. so if you're in one of those businesses, the u.s. will be a great place to invest. >> there's a lot of carbon hysteria in europe, as well. and there's laws that may or may not stay on the books. the one in australia may or may not stay on the books, as well. let me ask you a frank question....
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Nov 11, 2013
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do you feel it at all in europe or the u.k.? >> i don't think necessarily in the couldn't nebt of europe. there has been excitement around some ipoed recently. the retail investment went very big on the royal mail ipo here. that's the first time we've seen any sort of heavy retail investment, and they were right. they got a pop on the open for that. it's hard to say whether there's been greater excitement other than that. that's an indication that there was more excitement to that particular ipo a few weeks ago, joe. equities, meanwhile, we can see a little bit of momentum this morning on the up r up side. the dow jones stock, the ftse was down 26 points last week, .4%. this morning we're up about 1/4% for the market. slim gains. the cac quarante up. the european commission, they may launch an investigation into the imbalances in europe focusing on germany's surpluses. they've been criticized by the u.s. treasury. a number of sectors. dollar index is up at a two-month high post that jobs report and basic resources down. the frak
do you feel it at all in europe or the u.k.? >> i don't think necessarily in the couldn't nebt of europe. there has been excitement around some ipoed recently. the retail investment went very big on the royal mail ipo here. that's the first time we've seen any sort of heavy retail investment, and they were right. they got a pop on the open for that. it's hard to say whether there's been greater excitement other than that. that's an indication that there was more excitement to that...
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Nov 12, 2013
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. >> and europe, too. >> europe. >>> plus, we will get to our coverage of -- the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ mine was earned orbiting the moon in 1971. afghanistan in 2009. on the u.s.s. saratoga in 1982. [ male announcer ] once it's earned, usaa auto insurance is often handed down from generation to generation because it offers a superior level of protection and because usaa's commitment to serve current and former military members and their families is without equal. begin your legacy. get an auto insurance quote. usaa. we know what it means to serve. >>> welcome back, everybody. tuesday is not usually a popular day of the week to say "i do" but today happens to mark 11/12/13 on the calendar and that makes it a highly desirable wedding date for thousands of brides. according to a stu
. >> and europe, too. >> europe. >>> plus, we will get to our coverage of -- the american dream is of a better future, a confident retirement. those dreams, there's just no way we're going to let them die. ♪ like they helped millions of others. by listening. planning. working one on one. that's what ameriprise financial does. that's what they can do with you. that's how ameriprise puts more within reach. ♪ mine was earned orbiting the moon in 1971. afghanistan in 2009....